Aditya Birla Finance Launches Rs 2,000 Crore NCD Public Issue

26 Sep 2023 , 11:44 AM

Aditya Birla Finance Limited plans to raise up to Rs 2,000 crore through its first public issue of non-convertible debentures (NCDs). NCDs are fixed-income securities listed on BSE and NSE, offering an alternative to bank and corporate FDs for investors with medium risk tolerance. These NCDs cannot be converted into shares or equities.

The BSE filing on September 25, 2023, detailed the issuance of secured, rated, listed, redeemable NCDs with a face value of Rs 1,000 each, totaling Rs 2,000 crore. The issue opens on September 27, 2023, and closes on October 12, 2023, with an option for early closure.

The NCDs are highly rated (IND AAA and [ICRA]AAA) for safety and low credit risk, according to India Ratings & Research Private Limited and ICRA Limited. Aditya Birla Finance has been categorized as an ‘Upper Layer’ NBFC under RBI’s regulatory framework for NBFCs since September 30, 2022. Aditya Birla Capital Limited, the holding company and promoter, owns 100% of the equity share capital of Aditya Birla Finance.

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